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Predictor, IB offers many electronic markets around the globe. Although I believe (and def can correct me if I'm wrong) you will have to open several accounts in different currencies to trade them. Make sure you are aware of the exchange rate risk when doing this. Some markets like the...

The "Turtles" were a group of traders trained by Richard Dennis on a bet as to whether or not trading success was a learned skill or something inate only in certain people. You can learn more about that story in the first Market Wizards book. The turtle system is no secret. While the actual...

I'm not sure $5/side is such a great deal. With IB I pay $3/side for the mini. IB offers the standard margins, but that is more than enough for me, at least for now. I also get great executions with them. I like the J-trader interface (Patsystems), but if you want this, you can get it...

Two options: A rich uncle or a proprietary firm. And only use the rich uncle if you don't want him to ever speak to you again. That's because you WILL lose money in the beginning (and maybe the ending as well) and family members just don't understand this. It takes a special temperment for...

Dustin, Its true that you have to have seperate accounts, but moving funds between them is a snap. Once you've opened the stock account, you can just transfer funds as needed by logging into your futures account and then selecting the transfer option. I would love to see an equity/futures...

Interesting mjt. The local Onsite office where I live charges $250/month for RediPlus, waived only after 100 trades. I guess they can make the rules from place to place since its run like a franchise.

FCM = Futures Commission Merchant - Its a designation/license given by the Commodity Futures Trading Commission (CFTC) that allows an entity to act as a broker and advisor for futures trading. Yes to your second question. I didn't realize there were brokers that only allowed direct access...

gerritjan, I'm sorry to hear of your misfortune. Your losses, while painful, will serve to help other new traders learn a very important lesson. That is, know when your markets trade. I am assuming that you are trading either the S&P or Naz minis, which trade on Globex and are closed...

AA, Yes, it is a guide for entering the business, focusing primarily on recent grads, both undergraduate and MBAs. I would imagine someone already working at a bank or for a fund would have a different process based on their experience and who they knew, but I wouldn't know for sure. Kirk

AA, I am referring primarily to market makers because that is who Dustin asked about. I used "institutional" mainly for simplicity, but perhaps I used it too loosley. I am not referring to individual pit traders with whom I have a great deal of respect for and believe they have incredible...

Marko, With regards to TradeStation, the software itself will not make you any more profits. Many people think having a fancy software program will suddenly make them good traders because it will tell them how to trade. If the person is a bad trader, it only accelerates the speed at which...

I'm sure you're right, the hours on the trading floor are probably a little better than in the M&A department, but the bulge bracket firm mentality will prevail, which is firm first, life second...and that doesn't interest me as much as it used to now that I have a family, no matter how much...

Dustin, I have also wondered what was involved in getting on a professional trading desk, and have done a little research. I found a book called "The Fast Track: The Insider's Guide to Winning Jobs in Management Consulting, Investment Banking, and Securities Trading" by Mariam Naficy. It...

Thanks Robert, that clears it up a bit. Kirk

The answer to your question is that it depends. How long until expiration? If the option expires in the money then you will get called out. If it trades into the money and then drops down again before expiration then you won't, unless you are exercised early, which has never happened to me...

armaniman I agree, I don't think any indicator, stochastic or otherwise can be used in isolation. Any indicator I look at is strictly used for confirmation. I like to have several things on my side when I enter a trade. Does that mean I will be right? Of course not, but it helps my...

No, his favorite strategy is bilking the public. Do a search for him on the internet and see the problems people have had with him. I read somewhere that his trading accounts have actually lost money. His income is derived from selling books and seminars. As far as selling puts, it is a...

OK...Yes, it would be hard to keep a running total of average true range in your head after each new tick, lol. I read that same article in Futures, it was very interesting. Most of the analysis packages offer trial periods if you really want to use a sytematic approach to help your tape...

Cesko, Do you use any analysis software like Metastock or TradeStation? I am currently using Metastock and they have an average true range function that can plot it for you or you can use it in other formulas. Keltner Channels are plotted by taking a moving average (I use a 20 period...

Cesko, Are you looking for historical ATR data or just a way to compile it? And by ATR, do you mean average TRUE range (average true range takes gaps into account as part of the range) or just the distance between high and low for each day? Either way, programs like Metastock and...